12 Market Review (in HK$M)AustraliaMalaysiaIndonesiaThailandJapanTotal 2003149114906428445 200298114463825321 YOY Chg (%)52flat96681239 Accounts for 14% of total retail turnover (2002:10%) YOY sales and gross margins improved In Australia, 4 new stores were added in late 4Q; 5 new outlets planned for 2004; and growth momentum continuing In Japan, shop portfolio revamped; efficiency improved by store size reduction.
{}